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    <title>China Auto Rental (CAR)-Legend Holdings</title>
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                China Auto Rental Holdings Inc.</p>
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                China Auto Rental Holdings Inc. (CAR), a member of Legend Holdings, is a leading
                Chinese car rental service provider that was established in September 2007, with
                headquarters in Beijing. It provides professional services across the country and
                has a complete, one-stop offering, with short-term, long-term, and one-way rentals,
                financing and leasing, and supplementary and emergency services. It borrowed proven
                business models from other countries while coming up with specially-tailored features
                for Chinese customers. By September of 2012, CAR had more than 600 car rental outlets
                in 66 major cities and at 52 airports across the country, serving more than 1 million
                individual customers and 10,000 corporate clients. It is now China’s largest car
                rental company.<br />
                <br />
                CAR takes a customer-first approach to the business, having abandoned the old, time-consuming
                rental methods, and providing fast, convenient rental services to all customers.
                It has a nationwide network covering all major cities and tourist destinations on
                the Chinese mainland, with 24/7 car pick-up and return and other services. The company
                not only meets all of its customers’ car rental needs anytime and anywhere, but
                also guarantees a safe driving experience for customers.
                <br />
                <br />
                CAR has had a good reception from its customers and the public since the very beginning,
                and has a good image. In 2008, it was chosen as the official car rental provider
                for the 29th Summer Olympic Games in Beijing, and was given the “21st Century Future
                Star Company” award by China Entrepreneur magazine. In 2009, it made list of China's
                Promising Enterprises in the Chinese version of Forbes magazine. In 2010, it won
                the Most Promising Business Model award from New Fortune magazine and the Best Annual
                Car Rental Service award from china.com. In 2011, it received the Management Action
                Gold award from Harvard Business Review (Chinese version), Best Service award from
                the China Brand Festival, and Best Car Rental Company from National Geographic Traveler
                (China).<br />
                <br />
                With the philosophy “Any One, Any Time, Any Car, Any Where,” it is committed to
                a green-driving, new auto consumer concept, and to becoming the most trustworthy,
                reliable car rental service in China. It is also a major promoter of China’s car
                rental industry and the automotive industry in general.<br />
                <br />
                One report from Roland Berger Strategy Consultants cited CAR as China’s most recognized
                car rental name and a leader in fleet size, outlet coverage, market share, and revenues.
                <br />
                <br />
                Legend Holdings and Warburg Pincus are two major institutional shareholders in China
                Auto Rental Holdings Inc.
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                    Lu Zhengyao<br />
                    Chairman and CEO, China Auto Rental Holdings Inc.
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                    Mr. Lu Zhengyao, CAR’s chairman and CEO, founded the company in 2007 and is in charge
                    of Board affairs, corporate strategy, business planning, and overall management.
                    <br />
                    <br />
                    For the past five years, he has led the setting up of service outlets in 66 major
                    cities and at 52 major airports on the mainland, and has built CAR into the largest
                    national car rental company. According to a Roland Berger Strategy Consultants report,
                    CAR is now the most recognized car rental name in China and a leader in terms of
                    fleet size, service coverage, market share, and revenues. In 2010, it received strategic
                    investment from Legend Holdings and became a member of Legend Holdings.<br />
                    <br />
                    Under Mr. Lu’s leadership, CAR made the list of China's Promising Enterprises in
                    the Chinese version of Forbes magazine, in 2009. In 2010, it was named China.com's
                    Best Annual Car Rental Service. In 2011, it took the 5th Management Action Gold
                    award from Harvard Business Review (Chinese version) and, in 2012, was named one
                    of the Top 50 High-tech, High-growth Enterprises in China by Deloitte Touche Tohmatsu.<br />
                    <br />
                    Mr. Lu himself has garnered such titles as one of the Top 10 Pioneering Leaders
                    for 2009 and Business Model for Growing Talent from Contemporary Manager magazine,
                    Talent magazine, and The Bank of East Asia (China). In 2011, he was named one of
                    the Top 10 influential persons in China’s car rental development by the Economic
                    Daily newspaper.<br />
                    <br />
                    Mr. Lu obtained a B.S. in Electrical Automation from the University of Science &
                    Technology Beijing in 1991, and an MBA from Peking University in 2010. He is a standing
                    member of the Beijing Youth Federation and a member of the All-China Youth Federation.
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